Hawassa Industrial Park Housing Project Launched

Sep 18 , 2021

Cornerstone Development Group, a company engaged in real estate, has officially launched a construction project to develop housing for workers employed at factories in Hawassa Industrial Park. Lying on 21,000sqm of land, the project comprises 13 blocks that will house 6,500 employees. The project is slated to cost 600 million Br, and up to 15pc will be financed by Cornerstone, while the remaining amount will be covered by a grant extended by the German Development Bank and a loan from Zemen Bank. The project aims to address the lack of affordable housing in the area, where thousands of workers have to commute to work, spending hours on the road every day. According to the project managers, the dormitory blocks will be leased to companies that are already paying transport and housing allowances to employees, while some of the rent will be covered by the employees themselves. Established in 2017 and specialising in textile manufacturing, Hawasa Industrial Park has a labour force of close to 35,000.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...